Commercial
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November 21, 2024
Weed Co. Must Pay $5M To Entrepeneur In Investor Dispute
A marijuana consulting firm must pay $5 million to a former business partner after allegedly derailing plans to purchase a marijuana grow facility in Michigan by convincing the main investors to put their money into a Colorado weed business instead.
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November 21, 2024
Concerns Remain Over Pricing In Final Calif. Insurance Rule
Insurers in California will be able to price policies using catastrophe models meant to predict future climate risks, but they must adhere to one of several options for increasing coverage availability, under a final rule that has left lingering concerns. Here, Law360 provides a background and overview of the regulation on catastrophe modeling and ratemaking.
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November 21, 2024
NYC Watchdog Calls Stadiums Bad Bet In Willets Point Report
New York City's Independent Budget Office said Thursday that stadiums have proved a poor use of tax dollars in the first tally of expenses since Mayor Eric Adams announced a project to bring a soccer stadium, hotel and affordable housing to the city's Willets Point district in Queens.
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November 21, 2024
EB-5 Experts Eyeing 4 Suits For Needed Clarity
A 2022 law that revived and revamped the EB-5 immigrant investor visa program has left stakeholders with unanswered questions, and immigration attorneys said at a webinar Wednesday that they're eyeing four current cases for potential answers.
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November 21, 2024
Hype For Energy Tax Perks Could Shield Regs From Repeal
President-elect Donald Trump and Republican lawmakers could turn to an oversight tool called the Congressional Review Act to undermine clean energy tax credit regulations implementing key parts of Democrats' signature climate law, but the strategy may falter due to GOP support for the incentives.
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November 21, 2024
Ga. Attys' Easement Fraud Class Suit Shipped To State Court
A Georgia federal judge kicked back to state court a proposed class action accusing conservation easement fund organizers of racketeering and defrauding investors, saying the organizers failed to prove that the proposed class had at least 100 investors or that the case hinged on federal law.
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November 21, 2024
Experts Cool On 'Chill' Defense In NJ RICO Case
Former prosecutors and academics are doubtful two of New Jersey's most politically connected attorneys can convince a judge that the racketeering case against them will have a chilling effect on lawyering, given that prosecutors only have to show they knew the end game of the notorious Democratic power broker they're accused of helping.
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November 21, 2024
La. Parishes Can't Change Property Values After Court Rulings
Louisiana parish assessors lack the authority to unilaterally change a property's assessment if they become aware of an error in the assessment after a local board or the state Tax Commission sets the property's value, the state attorney general's office said.
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November 21, 2024
PierFerd Adds Fla. Transactions Partner From Taylor English
Pierson Ferdinand LLP just got a bit larger with the addition of a partner in Miami from Taylor English Duma LLP, bringing expertise in real estate, banking and financial services that is expected to bolster the firm's ongoing growth.
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November 20, 2024
Suit Alleges Fraud In Scuttled Deal Over Calif. Pot Grow
A California company is looking to claw back a $250,000 down payment to purchase a cannabis entity's cultivation operation, claiming a grower and others involved in the failed deal conspired to take the money, according to a lawsuit filed in California state court.
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November 20, 2024
RE Firm Savanna Closes $255M Manhattan Office Building Buy
Savanna has purchased a distressed 12-story, 176,588-square-foot Manhattan office building for a "deeply discounted" $255 million price tag, the real estate investment firm announced on Wednesday.
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November 20, 2024
3 Firms Guide $425M Loan For Ariz. Sports Complex Project
CTL Capital LLC loaned $425 million to Knott Development for its Tucson, Arizona, sports complex project, with the deal receiving guidance from Thompson Hine LLP, Goulston & Storrs LLP and Snell & Wilmer LLP.
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November 20, 2024
NJ Power Broker, Attys Demand Wiretap Docs In RICO Case
George E. Norcross III, a politically influential insurance executive in New Jersey, and others accused alongside him of a massive racketeering scheme demanded Wednesday that state prosecutors turn over complete wiretap application information dating back to 2016, arguing that those details form the core of the state's case against them.
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November 20, 2024
Extell To Tear Down Madison Ave. Office For Mixed-Use Tower
Extell Development plans to demolish an office building on Manhattan's Madison Avenue and erect a mixed-use tower with apartments on the site, according to New York City records filed this week.
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November 20, 2024
McCarter Partner, Former Miami Official On AI In Land Use
From planning for mega storms to streamlining zoning approvals, artificial intelligence tools are bringing efficiency and new modeling capabilities to local governments.
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November 20, 2024
MVP: Latham's Michelle Kelban
Michelle Kelban, co-chair of Latham & Watkins LLP's real estate group, helmed a $2 billion construction financing for Cain International and guided Ares Management's blockbuster purchase of GCP International, earning her a spot as one of the 2024 Law360 Real Estate MVPs.
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November 19, 2024
DC Circ. Ruling Adds New Wrinkle To Agency NEPA Reviews
Federal regulators may be left to question the limits of their powers in overseeing projects and enforcing environmental law after a recent D.C. Circuit ruling calling into question the White House's ability to set environmental policy.
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November 19, 2024
Calif. Hotel Wants To Stay Open Through Another Ch. 11
A California judge on Tuesday asked bankrupt San Jose hotel owner SC SJ Holdings for more information about who owns the cash management account that the debtor wants to use to keep operating during its second run through Chapter 11.
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November 19, 2024
Ohio Board OKs Income Approach In Two Theater Valuations
Two Ohio movie theaters should be valued using the income approach to valuation applied by a county appraiser, the state tax board said in separate rulings involving two counties.
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November 19, 2024
PierFerd Adds FisherBroyles RE Partner To DC Shop
Pierson Ferdinand LLP has added a FisherBroyles LLP partner who works with real estate financing and transactional matters to its Washington, D.C., team, the firm announced Tuesday.
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November 19, 2024
Fried Frank Guides REIT's Ongoing Brooklyn Retail Expansion
Empire State Realty Trust closed on the purchases of two properties in the Williamsburg neighborhood of Brooklyn, New York — the latest in the company's spate of retail acquisitions in that area — in a deal guided by Fried Frank Harris Shriver & Jacobson LLP.
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November 19, 2024
Tarter Krinsky Adds CRE Transaction Atty
An attorney with experience across the spectrum of commercial real estate transactions has joined Tarter Krinsky & Drogin LLP's real estate practice from Riley Riper Hollin & Colagreco PC, the firm announced.
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November 19, 2024
RFK Stadium Bill Passes Committee, Full Senate Vote Is Next
A bill that would give the Washington, D.C., city government control over land that could be home to a new stadium for the NFL's Commanders passed overwhelmingly Tuesday morning by the U.S. Senate Energy and Natural Resources Committee, moving it to the full Senate for approval.
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November 19, 2024
Treasury Finalizes Partnership Tax Credit 'Direct Pay' Regs
The U.S. Treasury Department finalized regulations Tuesday to make it easier for tax-exempt entities that co-own development projects to qualify for a direct cash payment of clean energy tax credits by electing out of their partnership tax status.
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November 18, 2024
3M Can't Add DuPont, Others To PFAS Water RICO Fight
A Massachusetts federal judge rejected on Monday requests by 3M Corp. and other defendants to add DuPont entities and over a dozen additional companies as cross-defendants in a proposed racketeering class action seeking to hold the companies liable for conspiring to contaminate local drinking water with so-called forever chemicals.
Expert Analysis
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Home Canning Makes Me A Better Lawyer
Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.
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Navigating FEMA Grant Program For Slope Fixes After Storms
In the aftermath of Hurricanes Helene and Milton, it is critical for governments, businesses and individuals to understand the legal requirements of the Federal Emergency Management Agency's grant programs to obtain funding for crucial repairs — including restoration of damaged infrastructure caused by landslides and slope failures, says Charles Schexnaildre at Baker Donelson.
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Smith's New Trump Indictment Is Case Study In Superseding
Special counsel Jack Smith’s recently revised Jan. 6 charges against former President Donald Trump provide lessons for prosecutors on how to effectively draft superseding indictments in order to buttress or streamline their case, as necessary, says Jessica Roth at Cardozo Law School.
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Consider Best Legal Practices For Commissioning Public Art
Commissioning public art for real estate projects can provide many benefits to real estate developers and the public, but it's important to understand the unique legal and contracting aspects of the process to ensure that projects are completed on time and on budget, says Sarah Conley Odenkirk at ArtConverge.
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Playing Diplomacy Makes Us Better Lawyers
Similar to the practice of law, the rules of Diplomacy — a strategic board game set in pre-World War I Europe — are neither concise nor without ambiguity, and weekly gameplay with our colleagues has revealed the game's practical applications to our work as attorneys, say Jason Osborn and Ben Bevilacqua at Winston & Strawn.
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Applying High Court's Domestic Corruption Rulings To FCPA
After the U.S. Supreme Court narrowed the domestic corruption statutes in three decisions over the past year and a half, it’s worth evaluating whether these rulings may have an impact on Foreign Corrupt Practices Act enforcement, and if attorneys can use the court’s reasoning in international bribery cases, says James Koukios at MoFo.
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Climate Among Many Factors Driving Up RE Insurance Costs
A proactive approach to risk management may determine the viability of the U.S. commercial real estate sector as weather crises and other factors drive insurance costs higher, says Ulrick Matsunaga at Crosbie Gliner.
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Bid Protest Spotlight: Debriefings, Timeliness, Documentation
James Tucker at MoFo examines three recent decisions from the Federal Circuit, the U.S. Government Accountability Office and the U.S. Court of Federal Claims concerning an agency's decision not to hold post-award discussions, a timeliness trap in certain Federal Supply Schedule procurements and the importance of providing contemporaneous documentation in price-evaluation protests.
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Collecting Art Makes Me A Better Lawyer
The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.
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A Look At Recent Case Law On Expedited Judgment In NY
A number of recent New York state court decisions clarify and refine the contours surrounding Civil Practice Law and Rule 3213, providing landlords, lenders and other payees guidance on how to seek accelerated judgment in certain litigation, says Alexander Lycoyannis at Holland & Knight.
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Round-Canopy Parachuting Makes Me A Better Lawyer
Similar to the practice of law, jumping from an in-flight airplane with nothing but training and a few yards of parachute silk is a demanding and stressful endeavor, and the experience has bolstered my legal practice by enhancing my focus, teamwork skills and sense of perspective, says Thomas Salerno at Stinson.
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Dealmaker Lessons From CFIUS' New Enforcement Webpage
The Committee on Foreign Investment in the United States’ recently launched webpage, which details the actions — and inactions — that led to enforcement activity, provides important insights for dealmakers about filing requirements, mitigation commitments and the cost of noncompliance, say attorneys at Dechert.
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Reassessing Lease Provisions To Account For ESG Initiatives
As companies seek to build ESG considerations into their businesses, it's crucial to understand how such initiatives can quickly become significant enough to compel reassessment of lease agreement provisions, and how best to modify leases accordingly, say Julian Freeman and Gabe Pitassi at Cox Castle.